Financial footprint for the future

This is an update to the plan for 2011-12 to 2030-31 that was adopted in November 2012.

Key changes include the effect of the recent State and Federal budgets such as a 36.8 per cent increase in street lighting tariff from 2015-16, a more detailed analysis of rates volume growth, updates to major projects such as the $94 million performing arts centre, $26 million Edgewater quarry and the Percy Doyle master plan, lower rate increases and a reduction in employee costs.

The plan indicates loans will be required to finance some of the standard capital works program of $2 million in 2018-19 and 2019-20, reserves will be depleted to $10 million by the end of 2017-18 and operating surplus ratio will remain negative in 2014-15 and 2015-16.

Cr Geoff Amphlett said it was a ‘thoroughly researched document that gives us some comfort going into the future’.

The plan was developed using a set of guiding principles that are reviewed annually.